The ASX 200 posted a new intra-day high on Thursday before slipping into the close, ending a strong day up 79 points, or 0.9%. As reporting season gathers pace, yesterday’s session delivered another round of outsized moves from companies both beating and missing expectations.
The ASX 200 rallied for a 3rd consecutive day on Wednesday, closing back above the psychological 9000 level courtesy of a 4% rally by NAB following another solid earnings update from a “Big Four” bank.
The ASX200 surrendered much of its early gains on Tuesday but still ended the day up 0.2%. We almost felt like a one-stock index at times yesterday with BHP at one stage popping above $54, up more than 7%, for the first time. Even with the “Big Australian” closing back under $53, up +4.7% on the day, it still added 40-points to the ASX200, basically double its net gain on the day
Monday saw the ASX200 experience a choppy day, which came as no surprise, with Chinese markets closed for the Lunar New Year and the US closed overnight for Presidents Day - it’s the year of the horse in China, which has a bullish feel to it, being associated with energy, independence and drive.
AI is increasingly impacting stocks and financial markets as a whole. Recent weeks have seen capitulation-style selling wash through some sectors, with investors fearing AI disruption is rewriting business models.
The ASX 200 tested its all-time high at lunchtime yesterday before peeling away to close up just +0.3% as the dramatic polarisation across the ASX continues in earnest - already in 2026, we’ve witnessed the Tech Sector hammered by over -20% while the Materials have gained more than +12%, compounding the dramatic rotation through FY26. It's becoming almost monotonous to quote how far the major tech names have fallen day to day. However, it's hard to ignore; it felt like capitulation on Thursday, but there's already been a few chapters in that particular scary book - on the day, SiteMinder (SDR) -12.9%, Xero (XRO) -8.4%, Life360 (360) -8.3%, and Technology One (TNE) -6.9%.
The ASX 200 soared +1.7%, enjoying its best day since October, posting 3-month highs in the process. Rallies by the heavyweight financials and materials sectors drove the move, led by strong earnings beats from Commonwealth Bank (CBA) and James Hardie (JHX). Although 8 of the main 11 sectors closed higher, the financials dominated the day, contributing 70% of the main boards' gain following the storming performance by CBA after its 1H profit topped expectations - more on the banks later.
The ASX200 surrendered its early gains on Tuesday to end marginally lower after being up almost 60-points early in the session. Eight of 11 local sectors ended the session higher, as strong miners, energy, and IT stocks offset a 1.1% slump in the financial sector, with the insurers weak and bank selling gathering momentum during the day.
Monday saw the currently fickle ASX 200 surge +1.9%, its best trading day since April, just one session after it plunged 2%. Yesterday’s gains were broad-based with all 11 sectors advancing along with 90% of the stocks, while the tech, real estate and materials sectors all gained by 3% or more.
What a week. Markets ran for cover as fears mounted that artificial intelligence (AI) could render many software business models redundant, or at least sharply devalue them. The issue was compounded by the fact that many of these software names were trading on lofty valuations in the anticipation of unrelenting growth. The potential risk of contraction compared to expansion has seen numerous household names halve in value over the last 6 months, from Xero and WiseTech on the ASX to Atlassian and Adobe in the US.
The ASX 200 rallied for a 3rd consecutive day on Wednesday, closing back above the psychological 9000 level courtesy of a 4% rally by NAB following another solid earnings update from a “Big Four” bank.
The ASX200 surrendered much of its early gains on Tuesday but still ended the day up 0.2%. We almost felt like a one-stock index at times yesterday with BHP at one stage popping above $54, up more than 7%, for the first time. Even with the “Big Australian” closing back under $53, up +4.7% on the day, it still added 40-points to the ASX200, basically double its net gain on the day
Monday saw the ASX200 experience a choppy day, which came as no surprise, with Chinese markets closed for the Lunar New Year and the US closed overnight for Presidents Day - it’s the year of the horse in China, which has a bullish feel to it, being associated with energy, independence and drive.
AI is increasingly impacting stocks and financial markets as a whole. Recent weeks have seen capitulation-style selling wash through some sectors, with investors fearing AI disruption is rewriting business models.
The ASX 200 tested its all-time high at lunchtime yesterday before peeling away to close up just +0.3% as the dramatic polarisation across the ASX continues in earnest - already in 2026, we’ve witnessed the Tech Sector hammered by over -20% while the Materials have gained more than +12%, compounding the dramatic rotation through FY26. It's becoming almost monotonous to quote how far the major tech names have fallen day to day. However, it's hard to ignore; it felt like capitulation on Thursday, but there's already been a few chapters in that particular scary book - on the day, SiteMinder (SDR) -12.9%, Xero (XRO) -8.4%, Life360 (360) -8.3%, and Technology One (TNE) -6.9%.
The ASX 200 soared +1.7%, enjoying its best day since October, posting 3-month highs in the process. Rallies by the heavyweight financials and materials sectors drove the move, led by strong earnings beats from Commonwealth Bank (CBA) and James Hardie (JHX). Although 8 of the main 11 sectors closed higher, the financials dominated the day, contributing 70% of the main boards' gain following the storming performance by CBA after its 1H profit topped expectations - more on the banks later.
The ASX200 surrendered its early gains on Tuesday to end marginally lower after being up almost 60-points early in the session. Eight of 11 local sectors ended the session higher, as strong miners, energy, and IT stocks offset a 1.1% slump in the financial sector, with the insurers weak and bank selling gathering momentum during the day.
Monday saw the currently fickle ASX 200 surge +1.9%, its best trading day since April, just one session after it plunged 2%. Yesterday’s gains were broad-based with all 11 sectors advancing along with 90% of the stocks, while the tech, real estate and materials sectors all gained by 3% or more.
What a week. Markets ran for cover as fears mounted that artificial intelligence (AI) could render many software business models redundant, or at least sharply devalue them. The issue was compounded by the fact that many of these software names were trading on lofty valuations in the anticipation of unrelenting growth. The potential risk of contraction compared to expansion has seen numerous household names halve in value over the last 6 months, from Xero and WiseTech on the ASX to Atlassian and Adobe in the US.
Check your email for an email from [email protected]
Subject: Your OTP for Account Access
This email will have a code you can use as your One Time Password for instant access
Verication email sent.
Check your email for an email from [email protected]
Subject: Your OTP for Account Access
This email will have a code you can use as your One Time Password for instant access
!
Invalid One Time Password
Please check you entered the correct info, please also note there is a 10minute time limit on the One Time Passcode
To reset your password, enter your email address
A link to create a new password will be sent to the email address you have registered to your account.
Market Matters members receive daily market reports, real-time trade alerts, full access to 5 portfolios and dynamic company data.
Choose how you'd like to proceed:
We have a range of membership options to suit your needs and budget, why not join today and get unlimited access to the premium Market Matters service.
